For many consumers, keeping an eye on how their money is spent can often be a difficult task. As a result, a wide variety of methods have been developed to assist consumers with budgeting and spending. For instance, there are web sites and application programs designed to help a consumer decide how much money to spend in what type of purchase categories on a monthly basis. While such programs are often used purely for guidance, some financial institutions and other entities have developed methods for placing controls and limitations on a transaction account such that transactions that exceed the limitations are automatically denied.
However, this type of control may sometimes be too restrictive on a consumer. For example, a consumer may need to make an emergency purchase that would exceed account controls, but be unable to do so because of the restrictions on spending. In another example, a consumer may want to make a purchase on a special occasion that would otherwise exceed previously established account limits. Thus, there is a need for a technical solution to provide for the ability to authorize a transaction in certain circumstances despite the existence of account controls or limitations.
In some cases, account controls or limitations may be managed using a mobile communication device, which a consumer may have with them while shopping. In such instances, the consumer may manually adjust account controls or limits prior to conducting a transaction that would have exceeded prior limits. However, this process may be time consuming, the consumer may forget to adjust their controls or limits back to the prior value for future use, and may be unavailable if the consumer is not in possession of their mobile communication device or lacks a connection to a communication network. Thus, there is a need for a technical solution that also provides for consumer verification of the authorized transaction that can be performed at a point of sale device without the addition of added communication devices in the transaction system.